10 May 2007 10:24 PM:
Smiley
From reading a bit , I think you are the expert on mortgages, see below how does it stack up?
I have a few more but this does not seem to be that much less expensive than UK?
Purchase price: 270.000.-€
- Mortgage amount: 240.000.-€ ( maximum 90% purchase deed and maximum 70% valuation, we will a need a valuation of 340.000.-€)
- Mortgage length: 30 years ,first 15 years interest only and the following 15 years repayment. Maximum age applicant 80 years old.
- Opening fee: 1%
- Early redemptions total or partially: 0%
- Interest rate applies: monthly euribor + 1,25%. Today monthly euribor is 3,86%, total interest rate applies at today rate: 5,11%. Interest rate review monthly.
Based in the above conditions at today rates the monthly payments will be:
* During the interest only period at today rate 1.022.-€
* After the interest only period, during the repayment period, at today rate 1.911,69.-€ (in 15 years time).
All advise greatly appreciated
Seb
Thread:
Mortgage Advice
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